Gambling your money is a make-or-break decision. Gambling your money away on a calculated risk, though, could be slightly better; the problem is you’re still leaving your money in a wager with no sure way of getting it back bigger or better. What’s tempting is that you stand to get a return that will be greater than the amount you put in.
If you’re going to deal with binary option trading, the first thing you’re going to do is to make an account with a broker. Here are some online brokers that are currently among the most recommended.
Choice 1:IQ Option
This broker came onto the scene in 2012 and, since then, has managed to be active on the Internet. The software is an in-house developed program; returns are in the 91 percentile. That being said, the countries it caters to are limited and some of the biggest countries in the world, like the US, have yet to be served. There’s a free demo and a minimum required deposit of $10 to get you started.
An app or program with the words ‘markets’ and ‘world’ combined together sounds promising. The developers for this app are based off The Isle of Mann; the Isle of Mann GSC, coincidentally, is a gambling regulatory agency. The program also requires a minimum required deposit of $10 and a small required trade amount of $1. Your returns are mostly guaranteed to be somewhere in the neighborhood of 80% to 90%.
A lot of these brokers are based off regular gambling capitals. Binary.com, for instance, is regulated in the British Isles as well as Malta, the UK, and Ireland. US traders are not yet covered, though it remains to be seen if they will be in the future. You can start trading as soon as you have the required money to cover for it; the investment amount is also regulated by your preferred payout. Other brokers are also supported to make for seamless trading.
HighLow is an Australian-made broker and is built upon the MarketsPulse platform. Returns are guaranteed up to 90% although US-based traders are, yet again, not covered by this broker. Demo accounts and a mobile app are supported by the broker. It does ask for a fairly high amount as a requirement; the deposit amount is pegged at $10 and the minimum required investment is also around $10.
Choice 5: eToro
eToro might make it seem like a bullish app that lets you trade absolutely any way you want. In truth, it’s not a broker but a social trading network where you can get tips, compare notes with other traders, and imitate strategies that may hopefully work for you. Since it’s a social network, the interaction here is primarily the reason you enter the app; you can receive trading news and insights and dispense some well-needed advice as well, if you’re on the other end of the spectrum.
It’s not that hard to wager, really; what makes it hard is the possibility of losing a bigger amount than you’d be most comfortable with. You should set aside a budget that you would allow to be lost to have peace of mind.